Tag Archives: Miami Investment Fraud Attorney
Florida Investment Broker Suspended for Six Months, Fined $20,000
On April 11th, 2017, FINRA’s Department of Enforcement announced that registered financial adviser John Patrick Wheeler (CRD#: 1068503) has been suspended for six months and fined $20,000 for professional misconduct. Mr. Wheeler was most recently employed at Raymond James Financial Services, Inc., at an office located in Clearwater, Florida. Without admitting or denying any… Read More »
Florida Broker Suspended for One Year for Professional Misconduct
Without admitting or denying any wrongdoing, Matthew Meehan (CRD#: 4320603) has consented to the sanctions that were brought by FINRA’s Department of Enforcement. According to the complaint (Case reference No. 2016050114901), the Winter Garden-based broker has been suspended for one year and ordered to pay a $15,000 fine and $21,813 in financial restitution to… Read More »
Massachusetts Financial Adviser Forged Documents, Sold Unsuitable Investments
On December 1st, 2016, the Enforcement Section of the Massachusetts Securities Division filed an administrative complaint against former LPL Financial broker Roger S. Zullo. The complaint alleges that Mr. Zullo, a Boston-based financial adviser, forged sensitive financial documents and intentionally pushed his clients into unsuitable investments. Authorities allege that he did this simply to… Read More »
Federal Jury Convicts Financial Executive in Cay Clubs Ponzi Scheme Case
On March 6th, 2017, the United States Department of Justice (DOJ) announced that David W. Schwartz, the former Chief Financial Officer (CFO) of Cay Clubs Resorts, has been convicted of several serious offenses by a federal jury. Mr. Schwartz now faces up to 93 years in prison. Cay Clubs, which at one point employed… Read More »
Utah Brokerage Firm Permanently Banned for Selling Unregistered Penny Stocks
Recently, FINRA expelled the broker-dealer ACAP Financial Inc. from any future dealing within the securities industry. The Salt Lake City-based brokerage firm was accused of unlawfully selling unregistered securities. More specifically, the firm sold billions of shares of four different penny stocks without properly registering them with the SEC. A complete account of the… Read More »
California Lawyer Charged With Stealing Investor Money
Recently, the Securities and Exchange Commission (SEC) announced several charges against Emilio Francisco, an Orange County, California-based lawyer for his role in a multi-million dollar investment fraud scheme. According to the agency, Francisco conducted a large scale fraud targeting foreign investors through the use of the EB-5 Immigrant Investor Program. In all, the SEC… Read More »
Owners of Day Trading Firm Charged with Defrauding Inexperienced Investors
The Securities and Exchange Commission (SEC) has filed investment fraud charges against Naris Chamroonrat and Adam L. Plumer for their role in creating a scheme that defrauded several hundred investors from all over the globe. According to the agency, the two men operated a fake day trading firm and used it to bilk investors… Read More »
FINRA Sanctions Merrill Lynch for Inadequate Supervision of Customer Accounts
On November 30th, 2016, the Financial Industry Regulatory Authority (FINRA) has announced more than $7 million in penalties against Merrill Lynch. The wealth management company was hit with $6.25 million in fines and was ordered to pay another $788,000 in restitution to the affected customers. Merrill Lynch consented to the sanctions, but did not… Read More »
Renewable Energy Company Defrauded Investors Out of More Than $30 Million
Recently, the Securities and Exchange Commission (SEC) filed a civil complaint against a renewable energy company. The lawsuit, which was filed in the U.S. District Court for Central California, was brought against Patrick S. Carter and his company 808 Renewable Energy Corp. In related lawsuits, the SEC also took legal actions against several co-conspirators,… Read More »
Financial Adviser Overbilled Clients, Stole Assets
On October 27th, 2016, the Securities and Exchange Commision (SEC) filed charges against a California financial adviser named Marc D. Broidy and his investment firm Broidy Wealth Advisors, LLC (BWA). According to the complaint filed by the agency, Broidy and his company took in more than $1.4 million in ill-gotten gains from clients. The… Read More »